Well there has been alot of commentry regarding this rights...

Well there has been alot of commentry regarding this rights issue. I have really been trying to get my head around it and have come to this conclusion. I have no idea if its right or if it is completely wrong. But here goes!
1. I think that the current creditors got wind of the Auditors report and as such asked AJX for a please explain . Given that they have backed AJX ,and in order to feel a bit more comfortable with thier loan they asked AJX to pay back X dollars.
2. AJX being were they currently are in the business cycle were unable to seek finance elsewhere so decided to tap the largest share holders.
3. I don't believe that AJX ever expect to get the 15.6M. But what they will get is enough money to pay back what they have been asked and this will satisfy their current creditor and this will buy themselves time for improving 4c to come through.
4. With improving 4c they can then either look at refinancing with their current creditor ( on better terms) or seek finance elsewhere.

So the 6cents is what the bigger holders wanted to sweeten THIER POT ( not the minnows like me) in order to stump up the cash. So l don't think we will be severly diluted as l dont believe that AJX or the big holders ever expected to actually raise 15.6M.

Just my thoughts could be right could be way off base.
BUT IT WILL ALLOW ME TO SLEEP TONIGHT

No facts just my thoughts. Let see what the next month brings. Good luck to us all.